Coca-Cola Bottling Business: Beverage giant Coca-Cola has sold 40 percent stake in its bottling business Hindustan Coca-Cola Beverages Private Limited (HCCBL) in India to Jubilant Bhartia Group. Although the company has not disclosed the amount of this deal, some reports have said that it is about Rs 10,000 crore. Information about this stake sale was given in a joint statement issued by both the companies.

A multi-billion dollar business group

According to the statement, "The Coca-Cola Company has agreed with Jubilant Bharatia Group to acquire 40 per cent stake in Hindustan Coca-Cola Holdings Private Limited, the parent company of Hindustan Coca-Cola Beverages Private Limited."

Jubilant Bhartia Group is a multi-billion dollar conglomerate with global presence in various sectors. HCCBL is the largest Coca-Cola bottler in India.

The Coca-Cola system will gain momentum

According to the statement, these transformations and investments are an important milestone for Coca-Cola as the company continues to pursue its purpose of innovating and transforming the world. Sanket Ray, President, Coca-Cola India, said, "We welcome the Jubilant Bharatia Group to the Coca-Cola system in India. With its diverse experience across various sectors, Jubilant brings decades of rich experience which will accelerate the Coca-Cola system."

Coca-Cola's fifth largest market

India is Coca-Cola's fifth largest market globally. The Atlanta-headquartered company is selling its bottling operations globally as part of its strategy to reduce its assets.